(Bloomberg) -- Thomas Cook Group Plc rose the most since December after Sky reported potential bidders have approached the debt-laden travel company to purchase all or part of its businesses.

Suitors have asked about taking over of Thomas Cook’s tour operating unit, as well as the entire company, Sky News reported on Saturday, citing unidentified people familiar with the matter. Fosun, Thomas Cook’s Chinese joint-venture partner, has expressed interest in buying the group’s tour operating business, Sky said.

Thomas Cook declined to comment. The company has been working to restructure its business after a series of miscues last summer left the world’s oldest travel agent with a weakened balance sheet. Management said in February that the company is seeking to sell its airline arm to help pay off debt after banks agreed to amend covenants on the credit facility in 2019 and 2020.

Bloomberg News reported last week that one of its lenders was unable to sell 25 million pounds ($33 million) of exposure at a 30 percent discount.

Shares of Thomas Cook rose as much as 20 percent, the most since Dec. 12. They were up 14.4 percent to 28.02 pence as of 8:14 a.m. in London, giving the company a market value of 432 million pounds. Including debt, Thomas Cook’s enterprise value is 820 million pounds, based on Bloomberg data.

To contact the reporter on this story: Lucca de Paoli in London at gdepaoli1@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Kenneth Wong

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